The Nassiriya Challenge

It’s unique, it’s challenging and it’s complex, but Iraq’s oil ministry seems determined to make the first upstream-downstream integrated project in Nassiriya a reality. What’s more, forget the $ per barrel fee that was the basis of all previous service contracts. On this one, investors will make a return on their investment from a percentage of the revenues Iraq will rake, pretty much like the “profit oil” concept in production-sharing…